Meralco rates go up in October on higher gen charge

Manila Electric Co. announced a P0.0345 per kilowatt-hour (kWh) increase in bills this month owing to the higher generation charge, which included the recovery applied for by the state-run Power Sector Assets and Liabilities Management Corp. (PSALM).

Meralco said the increase in this month’s rate was due to the P0.1777 per kWh increase in generation charge following the completion of the 2014-2016 Meralco-petitioned refund in September.

The reconciliation was reflected as a reduction of P0.1136 per kWh in the overall generation charge last month.

Reconciliation for other components, which includes transmission and system loss charges, subsidies and corresponding taxes, reflected a net collection of P0.1257 per kWh.

Cost of power from Power Supply Agreements (PSAs) and Independent Power Producers (IPPs) registered slight increases due to higher fuel prices and lower average plant dispatch, respectively.

Meanwhile, Wholesale Electricity Spot Market (WESM) charges decreased by P0.4382 per kWh, as lower power demand last September mitigated the impact of four Yellow Alert declarations by NGCP.